Culp, Inc. (NYSE:CULP) Given Average Rating of “Buy” by Analysts
Culp, Inc. (NYSE:CULP) has earned an average broker rating score of 1.50 (Buy) from the two brokers that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company.
Analysts have set a one year consensus price objective of $22.00 for the company and are predicting that the company will post $0.15 earnings per share for the current quarter, according to Zacks. Zacks has also given Culp an industry rank of 205 out of 256 based on the ratings given to related companies.
Several analysts have weighed in on CULP shares. Zacks Investment Research upgraded shares of Culp from a “strong sell” rating to a “hold” rating in a research note on Tuesday. ValuEngine upgraded shares of Culp from a “hold” rating to a “buy” rating in a research note on Tuesday, July 2nd.
Institutional investors and hedge funds have recently modified their holdings of the company. BNP Paribas Arbitrage SA boosted its position in shares of Culp by 509.9% in the first quarter. BNP Paribas Arbitrage SA now owns 2,336 shares of the textile maker’s stock valued at $45,000 after acquiring an additional 1,953 shares during the period. Metropolitan Life Insurance Co. NY raised its stake in shares of Culp by 370.1% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 4,099 shares of the textile maker’s stock valued at $77,000 after purchasing an additional 3,227 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Culp in the first quarter valued at $155,000. Saturna Capital CORP acquired a new position in shares of Culp in the second quarter valued at $304,000. Finally, Two Sigma Investments LP raised its stake in shares of Culp by 41.7% in the fourth quarter. Two Sigma Investments LP now owns 20,616 shares of the textile maker’s stock valued at $390,000 after purchasing an additional 6,069 shares in the last quarter. Institutional investors own 84.93% of the company’s stock.
Shares of NYSE:CULP traded down $0.09 during midday trading on Thursday, reaching $15.10. The company had a trading volume of 12,357 shares, compared to its average volume of 33,930. The company’s fifty day simple moving average is $18.01. The stock has a market cap of $193.30 million, a PE ratio of 36.83 and a beta of 0.51. Culp has a one year low of $14.83 and a one year high of $27.77.
Culp (NYSE:CULP) last issued its quarterly earnings results on Wednesday, June 12th. The textile maker reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.21). Culp had a return on equity of 4.47% and a net margin of 1.91%. The company had revenue of $70.96 million during the quarter, compared to the consensus estimate of $70.29 million. On average, equities analysts predict that Culp will post 0.87 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 16th. Shareholders of record on Friday, July 5th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date was Wednesday, July 3rd. Culp’s payout ratio is 97.56%.
Culp Company Profile
Culp, Inc manufactures, sources, markets, and sells mattress fabrics, sewn covers, and cut and sewn kits for use in mattresses, foundations, and other bedding products in North America, the Far East, Asia, and internationally. It operates in two segments, Mattress Fabrics and Upholstery Fabrics. The Mattress Fabrics segment offers woven jacquard, knitted, and converted fabrics for use in the production of bedding products, including mattresses, box springs, foundations, and top of bed components.
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